Oct 19 (Reuters) - Thin Film Electronics Asa :‍has raised approximately NOK 881 million (approx. $110 million) in gross proceeds through a private placement consisting of 352,500,000 new shares​.‍subscription price in private placement has been set to nok 2.50 per share, equivalent to a 7.8% premium to closing price on oslo stock exchange yesterday.For more on the share issue, click on nFWN1MT0US​.
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Oct 18 (Reuters) - Thin Film Electronics Asa :Thin film electronics contemplates ‍private placement of up to NOK equivalent of USD 110 million, representing approximately 43% of outstanding shares in company​.‍subscription price in private placement will be set through an accelerated bookbuilding process and is expected to be set between NOK 2.50 and NOK 2.65.Thin Film's shares closed at NOK 2.32 on Wednesday.‍has received significant pre-commitments from existing shareholders, as well as new institutional investors​.‍application period for private placement commenced today at 16:30 cet and closes 19 october 2017 at 08:00 cet.has retained Carnegie AS as Sole Global Coordinator and Joint Bookrunner, and Cowen and Company, LLC and DNB Markets as Joint Bookrunners​.‍net proceeds from private placement are intended to fully fund investments and operations until cash break-even based on current projections. Cash break-even is expected to occur in early q2 2019​.‍capital expenditures are expected to consume 40% of proceeds​.‍remaining proceeds will fund working capital needs. Company's technical and engineering team is already adequately dimensioned and no significant additions are to be expected​.‍in 2019, production capacity is expected to reach 3 billion nfc equivalent front-end die, and in 2020 to reach 7 billion units​.
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